Negotiating the purchase or sale of a business requires give and take to find solutions that meet and protect the needs of both buyer and seller. Let's say you're the seller. You want to maximize the value of your business while minimizing risk and taxes. When...
Few realtors are business brokers, but a large number of business brokers are realtors. It's an important distinction—especially if you want to successfully sell your business. Question: What is one of the first things a real estate agent will do? Answer: List your business on the Multiple...
Grousing about lawyers and their fees goes way back. Even Thomas Jefferson, a lawyer himself, said that “It is the trade of lawyers to question everything, yield nothing, and talk by the hour." I speak to a lawyer every day. And it doesn’t cost me anything. He...
Walk down the main streets of most any town or city and you’ll find at least one vacant store. Turnover in new businesses is common and statistically predictable, but sometimes it’s a long-standing business that has closed its doors. What happened to the owners? Times have been...
Do you already own a business? Is much of what you need to operate your business “in your head”? Businesses that rely on their owners for success have less value because replacing the owner is much more difficult and they are not ready for growth. Yet...
A crisp new year… have the country’s banks opened their wallets any wider for the purchase of small businesses in Canada? Don’t bank on it. Instead, prospective buyers depend on the seller taking back a percentage—usually some 20 to 50 per cent—of the agreed-upon purchase...
Many small business owners love what they are doing. It’s the fuel that powers them through long days and adversity. It’s why three out of 10 in Canada opened up shop. But it’s also the kicker that can make it so hard to leave—a milestone that...
Negotiating the purchase or sale of a business always requires give and take. But the “take” can assume another dimension when the norms of another culture are part of the mix. Culture profoundly influences how people think, communicate, and behave. It also affects the kinds of...
Turn on your television any day of any week and you are bound to find at least one “rescue” show where an expert whips a struggling individual, a family or small business into physical, emotional or financial shape. Oh, and let’s not forget the tough...
Note: We updated this article in August 2014 with new data, and while the points in the Sunbelt Texas article are still valid, I think it’s fair to say that no one still associates Tiger Woods with positive celebrity branding! If you’re anywhere near my age,...